The local telephone company soon to be spun off from Sprint Nextel Corp. will be known as Embarq Corp., and trade on the New York Stock Exchange under the EQ ticker symbol, officials said Wednesday.

The company will be expected to have $6 billion in annual revenues, rank among the Fortune 500 and serve as the fifth-largest local communications company in the country, based on the company’s 7.4 million access lines. It is expected to have about 20,000 employees after the company’s separation from Sprint Nextel, a shift expected to occur in the second quarter.